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You are the owner of a small retail store that is finding it difficult to compete amongst the big box retail giants like Walmart and
You are the owner of a small retail store that is finding it difficult to compete amongst the big box retail giants like Walmart and Target Inc. Since you moved into the market, your company has been in an unfavorable financial position, which includes net losses, burning through its cash at an alarming rate and being unable to make its day-to-day payments to the respective vendors. You spoke to a business consultant, and she indicated that Walmart and Target Inc. are virtually unbeatable because of its low-priced goods. Based on this information, how should your store respond from a business strategic point of view? What are the resulting human resource implications that are likely to occur based on your decision? On a side note, you have made it very clear that your intentions are to remain in business with the goals of turning your financial misfortunes around, but your senior managers are not willing to make some of the drastic changes required?
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